CubeSmart (NYSE:CUBE) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC lowered its stake in CubeSmart (NYSE:CUBE) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,988 shares of the real estate investment trust’s stock after selling 38,212 shares during the quarter. Heitman Real Estate Securities LLC owned approximately 0.18% of CubeSmart worth $21,908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CUBE. Boston Trust Walden Corp grew its holdings in shares of CubeSmart by 2.7% during the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after buying an additional 23,179 shares in the last quarter. PGGM Investments raised its holdings in shares of CubeSmart by 7.3% during the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock worth $39,242,000 after acquiring an additional 59,020 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of CubeSmart by 52.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 358,286 shares of the real estate investment trust’s stock valued at $16,184,000 after buying an additional 123,464 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in CubeSmart by 292.6% in the second quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust’s stock worth $657,000 after buying an additional 10,835 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in CubeSmart by 19.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 125,672 shares of the real estate investment trust’s stock worth $5,593,000 after buying an additional 20,077 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CUBE shares. Jefferies Financial Group upped their price target on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Truist Financial upped their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Evercore ISI boosted their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.36.

CubeSmart Stock Down 0.6 %

Shares of NYSE CUBE opened at $49.26 on Tuesday. The stock has a market cap of $11.14 billion, a PE ratio of 27.83, a PEG ratio of 13.91 and a beta of 0.84. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The business has a fifty day moving average of $49.79 and a two-hundred day moving average of $48.12.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter in the previous year, the company posted $0.68 EPS. CubeSmart’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.